October market sees gradual gains


According to figures released today by The Oakville, Milton and District Real Estate Board (OMDREB), the number of sales were up 2.1 per cent in October compared to the same period in 2012. Monthly sales totaled 630 compared to 617 in October 2012. The number of year-to-date sales increased by 3.6 per cent.

“The October real estate market was relatively sluggish as we saw only a small percentage increase in the number of property sales,” said Aziz Kanjee, President of OMDREB. “Residentially, Milton continued to experience a high increase in the median sale price, reaching over an 18 per cent increase.”

The dollar volume of all sales processed through the OMDREB MLS® system increased in October 2013 to $313,559,271 from $305,850,497 in October 2012– up 2.5 per cent. The dollar volume of sales year to date increased by 7.1 per cent year over year from 2012 to 2013.

Oakville’s median sale price for the month of October was $643,500, an increase of 8.2 per cent compared to October 2012. The median sale price in Milton was $475,000, an increase of 18.8 per cent compared to the same time last year.